IDEX is complying to KYC and other regulations

[mekar sari]

already normal see the market must fill KYC for member even though it's a small market like idex, I personally will do the task,  because Idex has a large volume and many new tokens listing on Idex

[Golftech]

WTH, KYC for a decentralized exchange? this is very strange, idex is no longer DEX but CEX and I think there will be many users who leave this exchange including me

Traders who believes with dex will definitely move away from this kinds of regulations, Dex should stay unregulated and the real intentions of this industry should stay, crypto need to remain anonymous and not what's happening now, KYC will be for CEX as it's regulated by centralized management.

[aemma]

Complying to KYC and other regulations means that Idex is dead to decentralization and that's awful. Decentralized has been one of the features that keeps Idex running while attracting more users and with that lost then the end might be near for them because other DEX will upgrade so as to rule the market.

[Chuky92]

When I read the news I was really surprised that a top Dex like Idex will take such approach without really thinking of the end result. Nevertheless, I think many users will go for other Dex as this is hard to believe and will also pave way for others to grow thus dominating the market.

[Cryptrx]

I believe the outstanding feature of Dex is the anonymity of their operation, so If any decentralised exchange turns around to demand for kyc such exchange should no longer be referred to as a Dex.

[ub27]

I'm yet to believe that IDEX will ask users to comply with KYC. Decentralized systems are gradually turning centralized with this recent developments. IDEX has always been my favorite DEX but if the KYC stuff is true, then I'll back off entirely from using IDEX. 

[stadus]

I'm yet to believe that IDEX will ask users to comply with KYC. Decentralized systems are gradually turning centralized with this recent developments. IDEX has always been my favorite DEX but if the KYC stuff is true, then I'll back off entirely from using IDEX. 

There's no good DEX now, even Binance DEX are not fully decentralized exchange.
It's pretty sad that things changes like this but that's not our  control, it's the government that are making this a centralized for them monitoring, that's why regulation is created to protect investors and to avoid illegal activities such as money laundering.

[Olatunjex]

I think you should not be upset,because FATF everyone will obey listen,even decentralized exchanges. I had expected that a similar situation should occur.On the other hand, we all pass KYC on other exchanges and do not complain!

We do not complaint on those exchanges because they are centralized exchanges, idex will be the first decentralised exchange to request for kyc, does it mean blockchain will never be decentralized which oppose it's primary feature and objective.

[Chomsy]

This has been known for a while that IDEX will be requiring KYC. Their verification is even worst than known centralized exchanges. I mean submitting name, birthday, and country for a $5,000 limit (tier 1) is just absurd. With this change, I think DDEX will take over as the top DEX.

That's truly absurd. I havent bothered to go ahead with that KYC after I heard the processes involved. I mean what's the essence of a Dex then? I rather continue with the centralised platforms than such

[Iyeman]

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

Seems like IDEX became just a regular small exchange, without any interest from the customers side... Looks like DEXs just cant handle a regulation pressure, thats pity, but it is a nowadays reality, maybe it is too early for real DEXs. Use Etherdelta, TRUE DEX haha

You should watch the old news about how etherdelta has been pushed by the US regulators, it's not safe for dex creator to be located around US. Even the dex creators feel worried if they can be arrested if they were not following the regulator's order. There is no true DEX right now.

[WeedGoW]

I'm yet to believe that IDEX will ask users to comply with KYC. Decentralized systems are gradually turning centralized with this recent developments. IDEX has always been my favorite DEX but if the KYC stuff is true, then I'll back off entirely from using IDEX. 

There's no good DEX now, even Binance DEX are not fully decentralized exchange.
It's pretty sad that things changes like this but that's not our  control, it's the government that are making this a centralized for them monitoring, that's why regulation is created to protect investors and to avoid illegal activities such as money laundering.

under this money laundering now climb all and Sundry. What kind of laundering can we talk about when you work and promote the company to ICO (you're not even an investor), and after six months they roll out the need to pass the КУC and you lose all earned, and even time will give a week, it's pure fraud.

KYC is the deal-breaker for many and with more DEX follow suit to required KYC by government. Now we have the half-ass DEX that only in name only.

[EdenDice]

IDEX was the top decentralized exchange. Last year, when I heard that IDEX is going to add the KYC procedure, I quite trading there. Now, Bancor is the top DEX for sure. Token dot store, Forkdelta, Tokenjar just an average DEX, Binance DEX like an eyewash! So, the DEX nature of crypto is going to end!

[DavethaMan]

It's a shame, no better than the centralized xchanges then so no reason to use it. Let's wait for the 100% decentralized dexes that actually are user friendly.